The milestone was hit Friday after the precious metal’s spot price surpassed $2,500 per troy ounce. Gold bars typically weigh 400 troy ounces, so a standard gold bar is valued at a million dollars.

The milestone was reached Friday, when the precious metal’s spot price surpassed $2,500 per troy ounce, an all-time high. With gold bars typically weighing about 400 ounces, that would make each ...